"Our direct-to-consumer businesses performed as forecasted, as we completed the process of rationalizing the number of retail stores and re-merchandising our Farberware Outlet Stores and Pfaltzgraff Factory Stores so that they carry the optimal mix of products.
"Lifetime's business outlook and momentum remain very strong. We expect that, in 2006, we will see continued and accelerating growth across all the Company's major brands, products and customer base. This growth will be driven by our commitment to innovation and new product development. "At the 2006 International Home & Housewares Show, held in Chicago in March, Lifetime introduced over 825 new items, including new lines of cookware, to be marketed under the Hoffritz(R) and Sabatier(R) brands. We also announced that we had acquired the exclusive rights to manufacture, market and distribute Pedrini(R) branded housewares products in the United States.
"For the year, we expect to introduce a total of more than 2,500 new SKUs, as we build on the Company's core strengths of nationally recognized and respected brands, product innovation and the strongest sourcing capabilities in our industry.
"Our recent acquisition of the business and assets of Syratech Corporation has significantly expanded our presence in luxury tabletop, a category we entered last September. In addition to adding many of America's oldest and most respected silver brands to our portfolio, the acquisition opens up additional new product categories, channels and accounts for Lifetime.
marketing@alchempro.com
